Digital Prime Technologies has launched Tokenet, an institutional digital asset lending platform in collaboration with EquiLend, with Galaxy Digital among the first participants to execute trades on it.
EquiLend, which invested in Digital Prime in December 2025, is providing distribution through its global securities finance network. That means EquiLend’s existing base of broker dealers and capital markets firms can access Tokenet’s lending workflows alongside their traditional securities finance activity. Digital Prime was founded by executives with prime brokerage backgrounds, especially at Cantor Fitzgerald.
The digital asset lending market has changed significantly since the 2022 collapses of Genesis, BlockFi and Celsius, but it remains heavily concentrated. Tether held a 61.84% market share at the end of 2025, according to Galaxy Research. Tokenet’s pitch is that it applies the governance, risk controls and lifecycle management of traditional securities lending to digital assets, filling an operational gap that persists even as institutional participation has grown. The addition of TradFi institutional participants could expand the available liquidity.
Galaxy Digital’s Max Bareiss, Head of Lending, said the gap between institutional operational standards and available tooling “has been real. Tokenet closes that gap.”
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